HSBC has made two new appointments as part of plans to grow its Asian Private Banking business and focus on the Ultra High Net Worth (UHNW) segment by setting up a new specialist proposition and dedicated servicing team.

Gabriel Tam has been appointed regional head of UHNW Solutions, Asia, with responsibility for connecting clients with both HSBC’s Private Banking and Global Banking and Markets product teams. Tam has more than 17 years of financial markets experience. He was most recently the Asia Pacific head of equity derivatives distribution at Bank of America Merrill Lynch in Hong Kong. 

Erik Bergqvist has been appointed head of UHNW Segment Management, to develop and deliver HSBC Private Banking’s UHNW proposition and client experience. Bergqvist and a new UHNW servicing team will provide a centre of excellence to support UHNW clients across Asia Pacific. Bergqvist has more than 17 years of financial services and wealth management experience. He was previously at Julius Baer and UBS.

HSBC is hiring for 700 roles over five years to the end of 2022 and investing US$100m in digital and technology by the end of 2020 in its Asian Private Banking business.